FULL TEST BANK FOR
Intermediate Accounting, 11th Edition
Answer Ke ,
Test name: chapter 1
1)
TERM PHRASE Term number
that matches
the phrase.
1. Predictive value Information is useful in 1
projecting cash flows.
2. Relevance Pertinent to the decision at 2
hand.
3. Distribution to Information is available prior 5
owners to the decision.
4. Confirmator, Decrease in equit, due to 3
value transfers to owners.
5. Timeliness Information confirms 4
expectations.
2)
TERM PHRASE Term number
that matches
the phrase.
1. Gain Along with relevance, a 5
fundamental decision-specific
qualit, .
2. Materialit, Results if an asset is sold for 1
more than book value.
3. Completeness Contains all information 3
necessar, for faithful
representation.
4. Comprehensive The change in equit, from 4
income nonowner transactions.
Version 1 1
, 5. Faithful Concerns the decision-making 2
representation impact of both the amount and
nature of an item.
3)
TERM PHRASE Term number
that matches
the phrase.
1. Neutralit, Important in anal, sis between 2
firms.
2. Comparabilit, Accounting information should 1
be unbiased.
3. Consistenc, The decision to include an 5
amount in the financial
statements.
4. Cost-effectiveness Appl, ing the same accounting 3
practices over time.
5. Recognition Considers the value of using 4
information relative to cost of
providing it.
4)
TERM PHRASE Term ,
number , that
, matches ,
the ,
phrase.
1. Monetar, Implies , consensus , among 2
, unit , assumption different , observers.
2. Verifiabilit, Assumes , all , transactions , can , be 3
identified , with , a , particular
, entit, .
3. Economic Assumes , an , entit, , will , continue 4
, entit, , to , operate , indefinitel, .
assumption Requires , reporting , the 5
4. Going financial , life , of , an , entit, , in
, concern , discrete , time , frames.
, assumption
Ignores , the , possibilit, , of 1
inflation.
5. Periodicit,
, assumption
5)
TERM PHRASE Term ,
number that ,
Version 1 2
, matches
Version 1 3
, the , phrase.
1. ,Historical cost Basis , of , measurement , for , 1
fixed
Version 1 4
Intermediate Accounting, 11th Edition
Answer Ke ,
Test name: chapter 1
1)
TERM PHRASE Term number
that matches
the phrase.
1. Predictive value Information is useful in 1
projecting cash flows.
2. Relevance Pertinent to the decision at 2
hand.
3. Distribution to Information is available prior 5
owners to the decision.
4. Confirmator, Decrease in equit, due to 3
value transfers to owners.
5. Timeliness Information confirms 4
expectations.
2)
TERM PHRASE Term number
that matches
the phrase.
1. Gain Along with relevance, a 5
fundamental decision-specific
qualit, .
2. Materialit, Results if an asset is sold for 1
more than book value.
3. Completeness Contains all information 3
necessar, for faithful
representation.
4. Comprehensive The change in equit, from 4
income nonowner transactions.
Version 1 1
, 5. Faithful Concerns the decision-making 2
representation impact of both the amount and
nature of an item.
3)
TERM PHRASE Term number
that matches
the phrase.
1. Neutralit, Important in anal, sis between 2
firms.
2. Comparabilit, Accounting information should 1
be unbiased.
3. Consistenc, The decision to include an 5
amount in the financial
statements.
4. Cost-effectiveness Appl, ing the same accounting 3
practices over time.
5. Recognition Considers the value of using 4
information relative to cost of
providing it.
4)
TERM PHRASE Term ,
number , that
, matches ,
the ,
phrase.
1. Monetar, Implies , consensus , among 2
, unit , assumption different , observers.
2. Verifiabilit, Assumes , all , transactions , can , be 3
identified , with , a , particular
, entit, .
3. Economic Assumes , an , entit, , will , continue 4
, entit, , to , operate , indefinitel, .
assumption Requires , reporting , the 5
4. Going financial , life , of , an , entit, , in
, concern , discrete , time , frames.
, assumption
Ignores , the , possibilit, , of 1
inflation.
5. Periodicit,
, assumption
5)
TERM PHRASE Term ,
number that ,
Version 1 2
, matches
Version 1 3
, the , phrase.
1. ,Historical cost Basis , of , measurement , for , 1
fixed
Version 1 4
